The Government has asked Aer Rianta to produce a report outlining the future options for the State's airport facilities and it will have to be finalised by the end of this month.
All the options will be looked at, including the possibility that the semi-state-owned Irish airports will be hived off and offered to the market as investment opportunities. So is it possible that we are on the threshold of the partial or full privatisation of Ireland's airports?
Because of confidentiality requirements, a spokesperson in Aer Rianta did not feel free to discuss what options might be put to the Government.
Cork Airport has been an outstanding success in recent years but it must continue to expand if it is to cater for the unprecedented growth that has come its way. This reflects the buoyant economy but is also a tribute to the way the airport management team has aggressively looked for new business and new avenues for development.
The airport, refurbished not too long ago, is bursting at the seams. The growth predictions have been outstripped by the pressures of passenger figures.
The airport has never seen such growth. Passenger numbers last year came to 1.3 million. In 1992, the number of people passing through the terminal was 50 per cent fewer.
"This year, we predicted that we would be handling 1.4 million passengers but even at this point, growth is 20 per cent higher. We always said that winter was the quietest time and summer the busiest. But last February, we handled the same number of passengers as we did in July of 1993. Our increase in traffic has been across the board - both in the tourist and business sectors," said Mr Joe O' Connor, the airport manager.
Cork Airport breaks even if the duty-free profits of almost £4 million are taken out of the equation. Last year, the airport posted profits of over £3 million. Bar £81,000, the profits were down to duty-free. But the life span of duty-free is, at best, limited and at the end of the day the decision will be a political one at European level.
The formal EU decision is that duty-free will be abolished by June 30th next.
In the meantime, our airports must cope with the expected growth and be ready to handle it. That means money. And given that airports like Cork are self-funding - in other words, no State subventions - the cash must be found somewhere.
Aer Rianta in Cork has not increased its charges to the airlines for 10 years. The well-publicised row between Aer Rianta and Ryanair over charges has brought attention to the issue. Ryanair wants to negotiate the best deal for itself and is threatening to put its new fleet of Boeings elsewhere.
Aer Rianta at Cork says it is already offering generous discounts. With the demise of dutyfree imminent, charges will have to be increased, Joe O'Connor emphasises. In turn, that means the punter is going to have to pay more for air fares.
But there is another issue. In Cork Airport's case, there will have to be new developments at a terminal designed for 1.1 million people - one that will have to cater for 1.5 million next year.
Space at the terminal will have to be doubled. Out on the ramp, more space will have to be created for aircraft parking. It will all come to £100 million over the next decade. Who is going to pick up the tab?
The Government is wondering about that too and that's why Aer Rianta has been asked to comb through the options. That is also why the full or semi-privatisation of Irish airports may not be too far-fetched a prospect.